Peru's trade balance surplus accumulated in the last four quarters amounted to 7% of the gross domestic product (GDP) in the first quarter of this year, which is higher than the average of 2.2% observed between 2012 and 2022, the
Central Reserve Bank of Peru (BCR) reported on Sunday.
According to the BCR, 23 consecutive quarters of trade surplus are accumulated in this result.
Moreover, it said that this is the highest rate (as a percentage of GDP) in the last 14 years (2008), due to the recovery of local and global activity.
The issuing entity stated that the trade balance of goods showed a surplus of US$3.839 billion in the first quarter of 2022, up by US$1.071 billion compared to the same period in 2021.
The Central Bank pointed out that the year-on-year increase is explained by the rise in exports from US$13.648 billion in the first quarter of 2021 to US$16.794 billion in the period of analysis.
For their part, imports were driven by higher prices for consumer goods, supplies and capital goods.
(END) NDP/CNA/RMB
Published: 5/22/2022